Skechers USA Inc. (NYSE:SKX) shot up 4.7% during mid-day trading on Thursday . The stock traded as high as $24.88 and last traded at $24.73, with a volume of 3,058,161 shares changing hands. The stock had previously closed at $23.61.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Skechers USA from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Monness Crespi & Hardt lowered shares of Skechers USA from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. They noted that the move was a valuation call. Vetr raised shares of Skechers USA from a “sell” rating to a “strong-buy” rating and set a $49.62 target price on the stock in a report on Tuesday, June 7th. B. Riley reissued a “buy” rating and set a $32.00 target price on shares of Skechers USA in a report on Monday, July 25th. Finally, Argus lowered shares of Skechers USA from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $32.06.

The company’s 50 day moving average price is $27.83 and its 200 day moving average price is $29.88. The firm has a market capitalization of $3.91 billion and a price-to-earnings ratio of 14.32.

Skechers USA (NYSE:SKX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $877.80 million for the quarter, compared to analyst estimates of $892.06 million. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities research analysts forecast that Skechers USA Inc. will post $1.83 earnings per share for the current fiscal year.

In other Skechers USA news, CEO Robert Greenberg sold 300,000 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $31.44, for a total transaction of $9,432,000.00. Following the transaction, the chief executive officer now directly owns 277,693 shares in the company, valued at $8,730,667.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Phillip Paccione sold 3,500 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $30.23, for a total transaction of $105,805.00. Following the transaction, the general counsel now owns 91,000 shares in the company, valued at $2,750,930. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Skechers USA by 211.4% in the fourth quarter. Vanguard Group Inc. now owns 10,454,998 shares of the company’s stock worth $315,845,000 after buying an additional 7,098,035 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Skechers USA by 120.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,842,166 shares of the company’s stock valued at $116,075,000 after buying an additional 2,096,640 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Skechers USA by 189.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,999,206 shares of the company’s stock valued at $60,396,000 after buying an additional 1,308,264 shares in the last quarter. Morgan Stanley boosted its position in shares of Skechers USA by 99.2% in the fourth quarter. Morgan Stanley now owns 1,079,189 shares of the company’s stock valued at $32,603,000 after buying an additional 537,515 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Skechers USA by 237.5% in the fourth quarter. Principal Financial Group Inc. now owns 963,736 shares of the company’s stock valued at $29,114,000 after buying an additional 678,165 shares in the last quarter.

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

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